S&P 500 constituent RR Donnelley to replace Medicis Pharmaceutical in S&P MidCap 400, as RR Donnelley's market cap is more representative of mid-cap market space; Garmin to replace RR Donnelley in S&P 500 after close of trading on Dec. 11

NEW YORK , December 7, 2012 (press release) – S&P 500 constituent R.R. Donnelley & Sons Co. (NASD: RRD) will replace Medicis Pharmaceutical Corp. (NYSE: MRX) in the S&P MidCap 400, and Garmin Ltd. (NASD: GRMN) will replace R.R. Donnelley in the S&P 500 after the close of trading on Tuesday, December 11. Valeant Pharmaceuticals International Inc. (NYSE: VRX) is acquiring Medicis in a deal expected to be completed on or about that date pending final approvals. R.R. Donnelley's market cap is more representative of the mid-cap market space.

Garmin designs, develops, manufactures, and markets global positioning system enabled products and other navigation, communication, and information products. Headquartered in Switzerland, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Consumer Electronics Sub-Industry index.

R.R. Donnelley & Sons provides integrated communication solutions to private and public sectors. Headquartered in Chicago, IL, the company will be added to the S&P MidCap 400 GICS Commercial Printing Sub-Industry index.

Following is a summary of the change:

S&P 500 INDEX – December 11, 2012
  COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Garmin Ltd. Consumer Discretionary Consumer Electronics
DELETED R.R. Donnelley & Sons Industrials Commercial Printing

 

 

 

S&P MIDCAP 400 INDEX – December 11, 2012
  COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED R.R. Donnelly & Sons Industrials Commercial Printing
DELETED Medicis Pharmaceutical Health Care Pharmaceuticals

 

 


Read more here: http://www.sacbee.com/2012/12/05/5033967/garmin-set-to-join-the-sp-500.html#storylink=cp

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